Daniel Loeb’s Third Point Unveils $115M Stake In Disney

The hedge fund run by CEO Daniel Loeb has revealed a stake in Disney worth $115M, as disclosed in a filing on his holdings as of June 30. Third Point‘s stake amount to less than 1 percent of Disney, or 1.8M shares. This adds to Third Point’s Hollywood holdings in Sony and MGM.

If we have to start reading SEC filings, Edgar, it means there is a whift of weakness in the industry that presents an opportunity for Loeb. Being bitchslapped by George Clooney actually confirms the underlying weakness in the mind of a hedgefund manager, used to nosebleed volatility and “buying on the puke,” as they say of shareholder fear. Guy is not a famewhore, a strategist.